The capital structure remains highly volatile, with total assets fluctuating between $670.6K and $87.3M, while the entity maintains a precarious liquidity position with a current ratio of 4.39 as of 2026Q2.
| Total Current Assets | 368.58K | 157.5K | 157.5K |
| Cash & Short-Term Investments | - | - | - |
| Cash Only | - | - | - |
| Short-Term Investments | - | - | - |
| Accounts Receivable | - | - | - |
| Days Sales Outstanding | - | - | - |
| Inventory | - | - | - |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 116.34K | 0 | 0 |
| Total Non-Current Assets | 86.94M | 61.56K | 61.56K |
| Property, Plant & Equipment | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 261.55M | 0 | 0 |
| Other Non-Current Assets | - | - | - |
| Total Assets | 87.31M | 219.06K | 219.06K |
| Asset Turnover | 0.00x | - | - |
| Asset Growth % | 0% | - | - |
| Total Current Liabilities | 83.98K | 206.15K | 206.15K |
| Accounts Payable | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - |
| Short-Term Debt | 0 | 200K | 200K |
| Deferred Revenue (Current) | 0 | - | - |
| Other Current Liabilities | 83.98K | 0 | 0 |
| Current Ratio | 4.39x | 0.76x | 0.76x |
| Quick Ratio | 4.39x | 0.76x | 0.76x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - |
| Deferred Tax Liabilities | 0 | - | - |
| Other Non-Current Liabilities | - | - | - |
| Total Liabilities | 83.98K | 206.15K | 206.15K |
| Total Debt | 0 | 200K | 200K |
| Net Debt | -252.24K | 58.02K | 58.02K |
| Debt / Equity | 0.00x | 15.49x | 15.49x |
| Debt / EBITDA | 0.00x | - | - |
| Net Debt / EBITDA | -0.54x | - | - |
| Interest Coverage | - | - | - |
| Total Equity | 342.92K | 12.91K | 12.91K |
| Equity Growth % | 0% | - | - |
| Book Value per Share | 0.06 | 0.00 | 0.00 |
| Total Shareholders' Equity | 342.92K | 12.91K | 12.91K |
| Common Stock | 86.89M | 287 | 287 |
| Retained Earnings | 245.29K | -12.09K | -12.09K |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
Imminent liquidation deadline risk
As reported in financial statements, PELI's balance sheet trajectory reflects a precarious state, with total assets fluctuating significantly between $670.6K and $87.3M, signaling that the entity's financial stability is entirely contingent upon the timing of trust account movements rather than any organic growth in business value.
The volatility in asset levels suggests that the company is struggling to maintain a consistent capital base while navigating the search for a merger target. Investors should monitor whether this instability forces management into a suboptimal business combination to avoid total depletion of operating resources.
Based on the reported figures, the current ratio of 4.39 in 2026Q2 masks a thin liquidity buffer, as the company's reliance on sponsor-provided capital to cover administrative costs leaves it highly vulnerable to any delays in the merger process or unexpected regulatory compliance expenses.
The sharp decline in liquidity metrics observed in prior periods suggests that the company's ability to sustain operations is tenuous. Without a successful business combination, the entity appears to lack the internal cash generation necessary to support its ongoing fixed-cost structure.
According to recent SEC filings, the equity position has experienced extreme volatility, including periods of negative equity, which indicates that the company's capital structure is heavily burdened by liabilities that may ultimately dilute the value for common shareholders upon a potential business combination.
The presence of negative equity in previous quarters warrants further investigation into the nature of sponsor loans and their conversion terms. This structural weakness suggests that the current equity base may not represent a stable foundation for long-term value creation.
As indicated by the provided data, the 15.49% debt-to-equity ratio is highly unusual for a shell entity, suggesting that the company is accumulating significant off-balance-sheet or accrued liabilities that could complicate the final merger economics and reduce the net proceeds available to public shareholders.
This leverage appears to be a necessity-driven mechanism to fund ongoing operations rather than a strategic capital allocation choice. Investors should be wary that these liabilities may represent deferred costs that will eventually be settled at the expense of the trust's net asset value.
Quick answers to the most common questions about buying PELI stock.
As of 2025, Pelican Acquisition Corporation Ordinary Shares (PELI) had total assets of $0.2M including $0.2M in current assets.
Pelican Acquisition Corporation Ordinary Shares (PELI) carries total debt of $0.2M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Pelican Acquisition Corporation Ordinary Shares (PELI) has total shareholders' equity (book value) of $0.0M ($0.00 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Pelican Acquisition Corporation Ordinary Shares (PELI) reported a current ratio of 0.76x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.